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Monday, February 11, 2019

The long-term consequences of data breaches on consumer trust

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The long-term consequences of data breaches on consumer trust

Most news coverage surrounding data breaches will hint at the erosion of customer loyalty, but what does it truly look like? With industries being disrupted at unprecedented rates, companies that are caught in the cross-hairs of highly publicized breaches must face the reality of losing customers to their competitors.

Additionally, an emphasis on post-breach damage control can impede an organization’s marketing and communication efforts to regain trust with their customers. The involvement of legal teams usually results in radio silence that can span months or years, causing brands to gradually diminish from the minds of their audiences.

As cyber-attacks continue to become more commonplace, marketers will begin to assume a role in shaping security efforts. Third-party marketing technologies are rife with vulnerabilities that hackers are waiting to explore, and everyone will be responsible for prioritizing privacy over data management.